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Headline : Trump Media CEO urges House GOP leaders to probe possible manipulation of DJT stock

Read more from the original article on here at www.cnbc.com.





Tags : #trump #media #ceo #urges #house #gop #leaders #probe #possible #manipulation #djt #stock


No. of Paragraph 26

Shares of Trump Media shot up more than 9% on Wednesday, hours after the company revealed it was urging House Republican committee leaders to investigate possible "unlawful manipulation" of its stock.

The stock boost also came one day after a deadline passed for former President Donald Trump, the company's majority owner, to become eligible for an additional 36 million "earnout" shares. That stake was worth more than $1.3 billion as of the share price at 3:25 p.m. ET.

It was unclear what spurred the sudden rise of Trump Media, which began the trading day down nearly 5% before turning positive later Wednesday morning.

The company's CEO, Devin Nunes, in a letter Tuesday asked the GOP chairs to probe "anomalous trading" of the stock in order to gauge the extent of the alleged manipulation and "whether any laws including RICO statutes and tax evasion laws were violated."

Read more from the original article on here at www.cnbc.com.


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